The market’s anticipation of big sales of new iPhones drove Apple shares higher this year, but now one Wall Street firm says the smartphone maker’s stock has risen too far. Deutsche Bank reiterated its hold rating for Apple shares, saying Wall Street’s consensus estimate for future iPhone sales are too high. “We remain wary that […]
Read moreDespite improved quarterly profits, Rite Aid shares plunged Thursday after the drugstore operator reported revenue that missed forecasts and said same-store sales fell 3.4 percent. Shares of Rite Aid were down about 11 percent, trading around $2 per share. The stock is down more than 70 percent this year, according to FactSet. Before the opening […]
Read moreSnapchat announced on Wednesday that companies can now buy 3D objects that users can drop into their snaps. Here’s an example: Remember the dancing hotdog that was popular a few weeks back? Now brands can create their own augmented reality-like objects that will appear in clips. tweet Bud Light is one such sponsor, as is […]
Read moreStanley Black & Decker plans to add drones to its commercial security business, and is developing drone-based systems in partnership with a startup called Sunflower Labs, CNBC has learned. Best-known for its power tools, Stanley Black & Decker generated 18% of its revenue last year from security products including electronic locks, perimeter sensors and video […]
Read moreFacebook is now as dominant in advertising as IBM was in the corporate technology market a generation ago, according to one Wall Street firm. Deutsche Bank reiterated its buy rating for Facebook shares, predicting the social media giant will report sales above expectations next year. “Facebook is the new IBM (in a good way). Just […]
Read moreThe so-called “special relationship” between the U.S. and U.K. was looking decidedly shaky Thursday morning after the U.S. Department of Commerce decided to slap heavy import tariffs on jets partly made in Northern Ireland. U.K. Prime Minister Theresa May hinted that the U.S.’s decision Wednesday to slap import tariffs of 219.6 percent on Bombardier‘s C-Series […]
Read moreAmazon and Apple are not a threat to streaming platform Roku, its CEO told CNBC as the company gears up to begin trading on the Nasdaq on Thursday. Roku aggregates different streaming providers, such as Amazon Video and Netflix, in one platform. It sells hardware that can plug into a television or licenses its software […]
Read moreThe stock market looks expensive and it may not be equipped to handle rising interest rates, according to Yale University fellow Stephen Roach. The former chairman of Morgan Stanley Asia suggests Wall Street has a case of amnesia, and the prognosis is poor for the 8½-year-old rally. “Inflation has all but vanished from the scene. […]
Read moreThe U.S. economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years, but the momentum probably slowed in the third quarter as Hurricanes Harvey and Irma temporarily curbed activity. Gross domestic product increased at a 3.1 percent annual rate in the April-June period, the […]
Read moreCurrency, United States Finance
Trump's tax plan will boost GDP, lift stocks and force a Fed rethink, RBC says
Economists at the Royal Bank of Canada gave an optimistic take on tax reform plans unveiled in the U.S., suggesting in its current form it will boost growth and urge investors to rethink the stock markets. “Acknowledging that some key details are still missing, a good baseline is that this tax plan could increase GDP […]
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